Fiscal Liability can be defined as 1) direct liabilities (contracted and predictable obligations); 2) indirect or contingent liabilities (obligations triggered by an independent but uncertain event); 3) explicit liabilities (defined by law or contract); 4) implicit liabilities (a practical effect different from the legally accepted or expected situation, obligations for the government by international experience).
Related Definitions in the Project: The Project Contract; Commercial Definitions
Fiscal Liability
ThePD (The Project Definition)
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